Sam McQuade talking about interim Chief Financial Officer benefits today? A CFO can improve the decision-making process by bringing facts, solid numbers, and asking the right questions. Another benefit to the business owner is the fresh perspective and insights brought by the CFO. This can have the added effect of making life a little less lonely for the entrepreneur. The CFO can be a sounding board and trusted advisor for new ideas and initiatives. Stakeholders such as investors, lenders and creditors react positively to the knowledge that a professional CFO has been retained. This takes on an added degree of importance when looking for outside investment, debt financing or positioning the company for sale. Find even more information at Sam McQuade CFO of Panterra Finance.
CFOs usually are responsible for key finance functions which have included broad categories of accounting, treasury, financial planning and analysis (FP&A), controls, compliance, tax, and audit. Going forward towards 2022, the same functions exist, but they are getting more automated, so the CFO can focus more on forward perspectives. Storytelling requires strong emotional intelligence and solid communication skills. Here’s the four key areas the CFO can be messaging: Why & Purpose: Communicating the “Why” is one of the strongest messages the CFO can deliver. It’s not only the reason for the corporate existence, but it’s also very motivational for all the stakeholders. This message should be repeated frequently and consistently to make people feel the genuine purpose.
Smaller companies, incubators and startups could not match the salaries that the full time CFO commanded on the world financial stage. The seeds for the concept of an Interim or Fractional CFO were planted in the mind of Sam McQuade almost 3 decades ago when he first entered the world of International Finance as an Entrepreneur Consultant in Geneva Switzerland after achieving his MBA/MA at European University. During this tumultuous time at the turn of the century on the international financial scene, Mr. McQuade was ahead of his time. He offered as needed financial consultation services for international behemoths the Swiss based Nestle Corporation and the US based medical device corporation Stryker. The focus of his services, which would years later be foundational in the concepts of Panterra was a new model in product development, manufacturing and marketing.
To make you understand it in simple words, let me explain it with an example. Suppose there is a website that allows people to buy and sell products. This website has a smart contract that governs how the transactions will take place. When someone wants to buy a product, they will send a request to the smart contract. The smart contract will then check if the person has enough money to buy the product. If they do, then the transaction will take place, and the product will be sent to the buyer. If the person doesn’t have enough money, then the transaction will not take place.
Are you looking to expand your business overseas? Our experts are able to help you at any stage. We will first start by understanding your vision and global tax and cash strategy. Once aligned, we will help execute the financial, legal, compliance and talent solution activities to build your entity and team.
A DAO is a decentralized autonomous organization that is run by smart contracts on the Ethereum blockchain. It is an organization or company that is not centrally controlled by any one person or entity. Rather, it is governed by code that is written into the smart contracts. This code can be modified or updated by anyone who has access to the DAO’s GitHub repository. To put this into perspective, imagine a traditional company or organization. There is usually a board of directors or executive team that makes all the decisions about how the company will be run. With a DAO, there is no such thing. The code that governs the DAO is open source and available for anyone to view and audit. In this new scenario, an organization can be run by anyone in the world who has an internet connection.
Do you want to hire your first CFO or need interim coverage? We provide CFOs for immediate short term projects and longer term engagements. Adaptable with clear pricing so you cover your business and don’t have to get into a potentially bad and expensive full time hire. Along with the core services of C-Suite Level Executives in Finance and a contingent of Fractional CFO talent and experienced Intermittent CFO innovators, Panterra Finance services include: international Business – Experts in Global Tax Liabilities and Cash Flow Strategies, investments and planning. Mergers and Acquisitions (M&A) Advisory – Providing valuations as well as independent perspectives on offers and options. Internal Audits – Independent internal auditors with in-depth reports highlighting risks and vulnerabilities. Risk Management – A worldwide footprint enables Panterra Finance to identify risks and opportunities in the new world economy. Compliance Review – Actionable understanding when entering markets with new rules, regulations, laws and international asset allocation decisions. Discover extra info on Sam McQuade.
The philosophy of “What got you here won’t get you where you want to go” is ever-present in business once past the initial start-up phase. Businesses launch additional products, open new territories, open additional locations, transact in new currencies, and deal with increasing regulatory requirements. These all require more advanced thinking, tools, and techniques. Many bootstrap startups begin with a part-time bookkeeper and simple systems but later find that they cannot sustain additional business growth and complexity. Systems, resources, processes, and strategies must scale in sophistication as a company grows.